Japan Credit Bureau (JCB), a Japanese analog to international payments systems like Visa or Mastercard, declared the commencement of its central bank digital currency (CBDC) infrastructure testing. Presumably, the project will prepare the payments platform for a national central bank digital currency, which is presently being tested by the Bank of Japan.
The infrastructure project, declared by the organization in local media, will come under the title JCBDC and intends to adjust the Japan Credit Bureau’s existing credit card infrastructure for central bank digital currency payments. The France-based provider of facial recognition technology IDEMIA and Malaysian Softspace will join forces with JCB in the platform’s development.
The platform will consist of 3 key directions. These include a touch payment solution, a simulation of the working CBDC environment, and an issuance and provision of plastic cards for CBDC. Japan Credit Bureau is also mulling over adjusting the mobile payment tools and QR codes, but in the later stages of testing.
Notably, Japan Credit Bureau is not a newcomer to digital innovations. It commenced a trial of a digital identity interoperability system based on blockchain tech in association with Fujitsu Laboratories in 2020.
The Future is Now Media Group have launched a YouTube show called The Future is Now Digest, hosted by Miguel Francis-Santiago. Together […]
April 30, 2020
PRESS RELEASE — 10,000 participants are expected to join CHAIN2020 in Hong Kong on January 15, which aims to become one of […]
December 27, 2019
Binance US, the American arm of the world’s largest cryptocurrency exchange, has terminated its agreement to purchase digital assets from Voyager Digital, […]
April 27, 2023
Bitcoin’s price rose above $29,000 on Wednesday morning as shares in First Republic Bank fell 50%. According to CoinGecko data, Bitcoin hit […]
April 26, 2023
Leave a Reply